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Huge 4 accounting and consulting agency PricewaterhouseCoopers (PwC) is planning to pour $1 billion into generative AI over the subsequent three years to reinforce its U.S. operations.
The corporate introduced on Wednesday that it could be utilizing OpenAI’s GPT-4/ChatGPT and Microsoft’s Azure OpenAI Service to improve its inner platforms as a way to automate elements of its tax audit and consulting providers. The corporate will even create scalable synthetic intelligence choices to help their shoppers’ enterprise wants.
A part of the funds on this funding might be allotted to coaching 65,000 employees on AI instruments and capabilities to raised equip them with the abilities to advise shoppers on the advantages of AI. PwC has already built-in Azure OpenAI Service capabilities for shoppers throughout various industries comparable to insurance coverage, aviation, healthcare, and extra.
“We’re at a tipping level in enterprise and society the place AI will revolutionize how we work, reside and work together at scale,” says Mohamed Kande, Vice Chair, US Consulting Options Co-Chief and World Advisory Chief, PwC.
In line with a WSJ report, Mohamed Kande stated that PwC might be paying to entry GPT-4 in order that the corporate can use the language mannequin to create their very own software program instruments. As soon as the instruments have been totally skilled and examined, they’re anticipated to assist:
write stories;put together compliance paperwork;analyze enterprise methods;id operational inefficiencies;create advertising and marketing supplies and gross sales campaigns.
PwC is not any stranger to AI expertise as the corporate has been discussing the subject even earlier than ChatGPT grew to become a media sensation. Final month, PwC partnered with generative AI authorized tech startup Harvey, which can deliver its chatbot to PwC’s community of greater than 4,000 authorized professionals to streamline in-house authorized processes. On Wednesday, Harvey closed a $21 million Collection A spherical led by Sequoia with participation from the OpenAI Startup Fund, Conviction, SV Angel and Elad Gil.
Like PwC, different Huge 4 companies have additionally been exploring generative AI to reinforce operations. As an illustration, EY is utilizing Azure OpenAI to develop a payroll chatbot whereas KPMG Australia launched KymChat, a proprietary model of ChatGPT, which allows the agency to coach its personal AI mannequin for focused aims.
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